The Naira on Wednesday depreciated against the dollar, exchanging at N793.70 at the Investors and Exporters window and N850 in the parallel market.

Thelagostimes gathered that the Naira decreased by 6.83 per cent when compared with N742.93 for which it exchanged for the dollar on Tuesday.

Currency traders said the open indicative rate closed at N778.07 to the US dollar on Wednesday. A spot exchange rate of N853 to the dollar was the highest rate recorded within the day’s trading before it settled at N793.70.

Data from the organised forex market for importers, and exporters showed that the naira sold for as low as N699.50 to the US dollar within the day’s trading.

A total of 87.19 million dollars was traded at the investors and exporters window on Wednesday.